PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by TFC Financial Management Inc.

TFC Financial Management Inc. lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 12.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,676 shares of the company’s stock after selling 228 shares during the period. TFC Financial Management Inc.’s holdings in PepsiCo were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. State Street Corp raised its holdings in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Geode Capital Management LLC increased its position in shares of PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Franklin Resources Inc. increased its stake in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after buying an additional 313,468 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. BNP Paribas decreased their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. HSBC cut their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Evercore ISI cut their price objective on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Down 1.1 %

Shares of NASDAQ:PEP opened at $143.99 on Thursday. The stock’s 50-day moving average price is $150.73 and its two-hundred day moving average price is $163.68. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The firm has a market cap of $197.48 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. On average, research analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.